This Popular Trader Just Suffered A Catastrophic Loss Of $250 Million As Ethereum Price Tanks Double Digits ⋆ ZyCrypto

A crypto trader who gained infamy after raking in around $200 million by infamously shorting Bitcoin and Ethereum just minutes before President Donald Trump’s tariff announcement sparked a spectacular $19 billion liquidation cascade in October 2025, has now suffered a massive loss as Ether slid to prices not seen in several months.

From A Profit Of $200 Million To A $250 Million Loss

According to data from blockchain analytics platform Arkham Intelligence, the single trader has fully exited their Ethereum position on decentralized derivatives exchange Hyperliquid, incurring a roughly $250 million loss.

The trader, known by some as the $10B HyperUnit Whale,” who has yet to be officially identified, now holds only $53 — a dramatic reversal of fortune for the whale who profited handsomely through multiple well-timed massive short positions.

The whale’s October short positions, which made him approximately $200 million, were opened minutes before President Trump announced 100% tariffs on Chinese imports, which led to a crypto market crash in its aftermath. As you may remember, the curious timing sparked speculation of insider trading, although no solid evidence of improper conduct has been provided.

The whale’s loss came as Ether tanked sharply this week alongside Bitcoin and other major tokens as continued selling pressure and a lack of fresh money weighed heavily on crypto markets. At press time, Ether was valued at $2,316, representing a 20.7% decline over the past seven days, according to CoinGecko data. The second-largest crypto by market capitalization has lost 53.2% of its value since peaking at $4,946 back in August 2025.

Who Is This Mysterious Whale?

The identity of the unfortunate whale remains a mystery. However, blockchain sleuths last year pointed to a potential connection to Garrett Jin, the former CEO of the now-defunct crypto exchange BitForex.

Jin refuted being the owner of the funds but admitted knowing the person behind the trades, postulating, “the fund isn’t mine — it’s my clients’. We run nodes and provide in-house insights for them.”